Middle East Economic Survey

VOL. XLIX

No 46

13-Nov-2006

IEA Reduces 2006 Oil Demand Growth Forecast On Lower 3Q06 Asian Demand

The International Energy Agency (IEA) has reduced its forecast of 2006 oil demand growth to 900,000 b/d from 1.1mn b/d in last months outlook, but maintained its 2007 growth expectation at 1.4mn b/d (MEES, 16 October). In its latest monthlyOil Market Report, published on 10 November, IEA says: Global oil product demand growth has been slightly lowered in 2006 to +1.1%,...